LVW Advisors LLC Buys Shares of 3,832 T. Rowe Price Group, Inc. $TROW

Key Points

• LVW Advisors LLC acquired a new stake in T. Rowe Price Group, purchasing 3,832 shares valued at approximately $370,000.
• Multiple institutional investors have recently adjusted their holdings in T. Rowe Price Group, with 73.39% of shares currently held by institutions.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, representing a yield of 4.9%, with a payout ratio of 56.76%.

LVW Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,832 shares of the asset manager's stock, valued at approximately $370,000.

Several other large investors also recently modified their holdings of TROW. Cooper Financial Group lifted its holdings in T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after acquiring an additional 113 shares during the period. Associated Banc Corp increased its stake in T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after acquiring an additional 114 shares during the period. Dakota Wealth Management increased its stake in T. Rowe Price Group by 4.7% during the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager's stock worth $245,000 after acquiring an additional 114 shares during the period. Finally, Wealthcare Capital Partners LLC increased its stake in T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley lifted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $101.55.

T. Rowe Price Group Stock Up 0.3%

Shares of TROW stock opened at $103.47 on Friday. The firm has a market capitalization of $22.73 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock's fifty day simple moving average is $106.13 and its 200 day simple moving average is $97.78.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group's payout ratio is presently 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company's stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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